The consumption of electricity in Switzerland in September 2022 was 13% lower the the same month last year, according to grid manager Swissgrid, reported RTS. The combined electricity consumption of Swiss businesses and households in September 2022 was lower that the 7-year average for the month, suggesting that the federal government campaign to encourage lower […]
Vast majority of Swiss mums in paid work in 2021
In 2021, 82% of mothers in Switzerland were economically active, according to data published by the Federal Statistical Office (FSO) this week. The rate of mothers working in 2021 (82%) was 22 percentage points higher than it was in 1991 (60%). At the same time fathers were not working at a significantly lower rate. In […]
Switzerland expects government surplus in 2022 and lower public debt from 2023
After a roughly CHF 40 billion blow to Swiss public finances due to the Covid pandemic, Switzerland’s financial outlook is beginning to look positive, according to a recent government press release. Figures from the Federal Finance Administration (FFA) forecast a surplus of CHF 1.5 billion in 2022, an amount equivalent to 0.2% of GDP. In […]
Swiss fines for face covering reduced to 1,000 francs
On 7 March 2021, a vote to ban face covering at a federal level was accepted by 51.2% of Swiss voters. Since then the government has been working on implementing the decision. This week it presented the details. After the latest consultation on the subject the Federal Council decided on Wednesday on a maximum fine of CHF 1,000 instead of […]
More than 70% of Swiss homes heated by burning stuff
Statistics published this week by the Federal Statistical Office (FSO), show that 70.1% of homes in Switzerland are heated by burning either mazout (heating oil), gas or wood. Across Switzerland 40.7% of homes are heated with mazout or heating oil. A further 17.6% are heated by burning gas and 11.8% by burning wood. These high […]
Inflation turns negative in Switzerland in September
In September 2022, Switzerland’s consumer price index (CPI) fell by 0.2% compared with the previous month, according to data from Switzerland’s Federal Statistical Office (FSO). The 0.2% month-on-month fall was due to falling prices for fuels, heating oil, hotels and related accommodation. Falls in the prices of these items were offset by higher clothing and […]
Marked economic slowdown on horizon in Switzerland
On 20 September 2022, government forecasters announced downgraded expectations for GDP growth in Switzerland. A group of experts focused on predicting business cycles downgraded expected GDP growth to 2.0% in 2022 and to 1.1% in 2023. After a positive first half of the year the Swiss economy now faces a deteriorating outlook, said the group. […]
Chart of the week: 11% of Swiss over 64 work
More and more people 65 and older are continuing to work across the OECD. The reasons for working beyond this particular point in life vary from person to person. Labour force participation among this age group across the OECD ranges from 2.4% (Romania) to 41.7% (Indonesia). In Switzerland, the rate was 11.1% in 2020, higher […]
Swiss rate hike ends negative rates in Europe
On 22 September 2022, the Swiss National Bank (SNB) bumped its policy interest rate up by 0.75 percentage points to 0.5%. The move pushed the Swiss Franc down by around 2% against the euro. The recent hike brings Europe’s experiment with negative interest rates to a close. Only Japan now has a negative rate. The […]
Pilots at SWISS threaten to strike despite offer of extra 60 million francs
Pilots at the airline SWISS could strike from 17 October 2022 if their demands are not met, reported RTS. Pilots at the airline are remunerated under a collective labour agreement. The airline recently presented an offer CHF 60 million higher than their orignal offer. However, on 16 September 2022, Aeropers, a union representing the pilots, […]
